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please draw the decision tree too so I can understand 1. (6 pts) The owner of the Columbia Construction Company must decide between building a
please draw the decision tree too so I can understand
1. (6 pts) The owner of the Columbia Construction Company must decide between building a housing development, constructing a shopping center, and leasing all the company's equipment to another company. The operational cost that will result from each alternative is determined by whether community benefits remain stable, decline, or increase. The operational cost for each alternative, given the three possibilities for community benefits, is shown in the following payoff table: Identify the best decision using expected value and expected regret. Probabilities of the states of nature are P( Stable )=0.4, and P( Declines )=0.1. Estimate expected opportunity loss, lii out the regret table below:: What is the expected value of the project with perfect information (EVPI): What is the expected value of perfect information (EVPI): MANUALLY draw and solve the decision tree (insert photo or use paint editor, or stylus)Step by Step Solution
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